The two-year-old money transfer startup has been operational in Kenya and Tanzania and hasraised $2.7 million to aid its expansion across the continent.

According to the company website, the network will work on MTN and Airtel Uganda mobile networks to trade Bitcoin. Bitpesa has predominantly relied on Africans in the diaspora that wish to send money to their home country for their customer base.

Bitpesa will have to compete with Ugandan-based remittance service Remit.ug, Worldremit, Afroremit, Westernunion, Money Gram, traditional banks among other money transfer service providers that support sending money to Uganda.